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Mar 31, 2022
Open Lending Q1 2022 Earnings Report
Open Lending reported first quarter results, which included a 32% increase in certified loans, a 14% increase in revenue and a 11% increase in Adjusted EBITDA compared to first quarter of 2021.
Key Takeaways
Open Lending reported a strong first quarter in 2022, with a 32% increase in certified loans and a 14% increase in revenue compared to the first quarter of 2021. The company added 18 new customers and saw increased certification volume from its top 10 customers.
Facilitated 43,944 certified loans, a 32% increase year-over-year.
Total revenue was $50.1 million, a 14% increase year-over-year.
Net income was $23.2 million, compared to $12.9 million in the first quarter of 2021.
Adjusted EBITDA was $33.8 million, an 11% increase year-over-year.
Open Lending
Open Lending
Open Lending Revenue by Segment
Forward Guidance
The Company is reaffirming its previously issued guidance.
Positive Outlook
- Total Certified Loans: 195,000 - 225,000
- Total Revenue: $210 - 240 million
- Adjusted EBITDA: $135 - 160 million
- Adjusted Operating Cash Flow: $140 - 165 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income